Statement of Cash Flows—A method of reporting the cash flows
from operating activities as the net income from operations
adjusted for all deferrals of past cash receipts and payments and
all accruals of expected future cash receipts and payments.Indirect
Method
The comparative balance sheet of Merrick Equipment Co. for
December 31, 20Y9 and 20Y8, is as follows:
Dec. 31, 20Y9
Dec. 31, 20Y8
Assets
Cash
$244,410
$227,360
Accounts receivable (net)
88,540
81,660
Inventories
249,940
241,760
Investments
0
93,660
Land
128,200...